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Press Release
18 Oct 2005
Wharf T&T Celebrates Its 10th Anniversary Thriving to Scale New Heights

Established in 1995, Wharf T&T Limited yesterday (18 October 2005) commemorated the 10th anniversary of the company and hosted a cocktail reception at Conrad Hotel to celebrate this great occasion.

Over two hundred guests gathered at yesterday's cocktail reception to celebrate Wharf T&T's 10th anniversary. The honourable presence of Mr. John Tsang, Secretary for Commerce, Industry and Technology is the limelight of the celebration. His participation and precious remarks on the local telecommunications market during the celebration was certainly a highly illuminating and memorable experience for the guests.

"Wharf T&T was one of the pioneers to join the local fixed telephone market in 1995, and has progressed by leaps and bounds in the past ten years…… Wharf T&T has established itself as a key player in the communications industry in Hong Kong during the past decade. In the decades to come, with continued investment in infrastructure and services, we look forward to Wharf T&T taking the communications industry in Hong Kong to even greater heights." Mr. Tsang said.

Mr. Stephen Ng, Chairman and CEO of Wharf T&T, remarked at the reception, "Today signifies an important milestone not only in Wharf T&T's development, but also in the liberalization of the telecommunications market in Hong Kong. Wharf T&T was one of the pioneers to break the industry monopoly in 1995 to bring choice and innovation to Hong Kong customers in the last decade."

While enjoying the fruits of its runaway success, Wharf T&T is devoted to continue thriving with superb services and innovative solutions to meet the ever-changing customer's needs. "We are able to achieve that because we have established over the years an unwavering commitment to continuously upgrade our network and services not only to deliver competitive products at competitive prices to businesses and consumers but also to deliver top notch service quality for mission critical applications of our prestigious customers in the business community." Mr. Ng said.

Wharf T&T's strategic repositioning which took place in 2003 and 2004 had proven successful amidst the tough environment followed by the Government's decision to withdraw Type II interconnection by mid-June 2008 that sparked a revolution in the telecommunication market with fast convergence of voice, data and multimedia. To cope with the emerging challenges in the new IP era, Wharf T&T has accelerated the transformation of its TDM-based network to a state-of-the-art IP network which enabled the launch of innovative services to address customers' ever demanding needs. IP-based services such as SUPERTONE BROADBAND service and DIGITAL HOMELINE service have achieved rewarding results. The DIGITAL HOMELINE demonstrates the success of Wharf T&T's strategic partnership with i-CABLE by creating an edge through upgraded services and expedition of network coverage primed by i-CABLE's Hybrid Fibre Coaxial (HFC) network. The company will continue to roll out the Next Generation Network IP infrastructure aiming for an anticipated growing demand and aggressive penetration to the market.

After a decade of striving to excellence, Wharf T&T has established a solid customer base of over 500,000 fixed lines, accounting for over 13% market share with network covering over 95% of the whole territory.

Mr. Ng concluded, "Looking ahead at the next decade, we see a challenging decade with the telecommunications and regulatory environment undergoing enormous reform where voice, data and multimedia are fast converging. We understand that the challenges in this market will be substantial, but the opportunities would be no less abundant. Wharf T&T's success is underpinned by the support of all of our business partners and customers. Looking ahead, Wharf T&T will continue to do our very best to serve our customers and to scale new heights."

About Wharf T&T Limited

Wharf T&T, marking its tenth anniversary in 2005 with ten consecutive years of sustained growth, is a leading fixed-line operator with HK$5 billion of investment in its own telecommunications network infrastructure in Hong Kong. On top of its ongoing commitment to upgrade network and services to deliver competitive products at competitive prices to Hong Kong businesses and consumers, Wharf T&T has established a sound fixed-line business model with a proven track record of rising profitability since 2001 and positive free cash flow since 2004.

Wharf T&T is a core member of The Wharf Group, one of the largest groups of companies in Hong Kong. The Wharf Group also owns i-CABLE Communications Limited, the leading cable television station and Internet access service provider in Hong Kong.

For further information about both Wharf T&T and The Wharf Group, please visit the Wharf T&T website at www.wharftt.com.

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